CDC Group

CDC Group, established in 1948, is the UK’s Development Finance Institution wholly owned by the government. Its primary mission is to foster business development in Africa and South Asia, aiming to create jobs and improve living conditions in some of the world’s most impoverished regions. CDC invests strategically in sectors where job creation is most needed, including manufacturing, agribusiness, infrastructure, financial institutions, construction, health, and education. By supporting businesses in these areas, CDC seeks to stimulate economic growth and enhance the private sector in regions where it is often underdeveloped. Through its portfolio, which includes numerous investee businesses, CDC has demonstrated a significant impact on job creation and local economies, contributing to tax revenues and ultimately improving the lives of individuals in the communities it serves.

Rohit Anand

Director & Head of Industrial Businesses team

Michelle Ashworth

Investment Director, FCP for Africa funds

Nikhil Balaraman

Director - Equity, South Asia

Andrew Brown

Deputy Chief Investment Officer and Managing Director

Colin Buckley

Chief Operating Officer

Jeremy Burke

Investment Director, Debt Team

Richard Charlton

Investment Director, Infrastructure Equity

Jeremy Cleaver

Head of Johannesburg Office & Portfolio Director, Intermediated Equity (Africa)

Peter Dohrn

Investment Professional

Michael Dreyer

Investment Director, Infrastructure Equity

David Easton

Director & Head of Consumer Businesses team

Mark Edwards

Director

Clarisa De Franco

Managing Director, Head of Africa Funds, Intermediated Equity

Murray Grant

Managing Director, Intermediated Equity

Jean-Guillaume Habay

Director and Head of Food and Agriculture

Ramona Handa

Investment Associate

Julien Lajoie-Deschamps

Investment Manager

Peter Maila

Coverage Director of Africa

Geoffrey Manley

Investment Director, Debt Team

Keki Minoo Mistry

Non-Executive Director

Alagappan Murugappan

Managing Director, Intermediated Equity (Asia Funds)

Srini Nagarajan

Managing Director & Head of South Asia

Megha Okhai

Investment Director, Food & Agriculture

Osborne, David Delano Franklin

Director & Head of the Generalist team

Richard Palmer

Investment Director Head of Corporate Debt

Nicolas Pitiot

Investment Director, Debt Team

Stephen Priestley

Managing Director, Funds and Capital Partnerships

Maia Renchon

Investment Manager, Debt Team

Holger Rothenbusch

Managing Director, Debt Team

Carlotta Saporito

Investment Manager, Intermediated Equity

Bradley Smith

Investment Manager

Lynsay Taffe

Director of Communications

Ryan Wagner

Portfolio Director, Intermediated Equity (Asia Funds)

Past deals in Africa

Paymob

Series B in 2022
Paymob Solutions S.A.E. is a digital payments enabler based in Cairo, Egypt, founded in 2015. The company offers a payment acceptance platform that facilitates the conversion of cash payments and transfers to digital formats. Paymob’s services include integrated fraud detection, interactive dashboards, and compliance with PCI security standards. By providing robust payment infrastructure technologies, Paymob aims to empower underserved populations with access to essential financial services. The company focuses on bridging the financial inclusion gap in the Middle East and Africa, enabling businesses of all sizes to harness the benefits of digital payments.

Apollo Agriculture

Series B in 2022
Apollo Agriculture, founded in 2015 and based in Nairobi, Kenya, focuses on providing financial and technical support to smallholder farmers in emerging markets. The company offers farming loans to help farmers purchase essential inputs such as fertilizer, seeds, and crop insurance, along with access to expert consultations via mobile technology. By utilizing agronomic machine learning and remote sensing, Apollo tailors its services to individual farmers, assessing credit risk and customizing packages based on satellite and soil data, as well as crop yield models. This approach not only enhances the effectiveness of farming practices but also aims to significantly increase yields and profits for farmers.

M-KOPA

Venture Round in 2022
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

TradeDepot

Series B in 2021
TradeDepot Inc. develops a SaaS platform for FMCG distribution in Africa. It enables predictive trade intelligence to leapfrog the competition, real-time access to distributors' stock levels, receive bulk orders online, and auto-generate sales promotions to boost sales. It helps to connects with distributors, wholesalers and retailers online, on one platform. The company was founded in 2016 and is based in Lagos, Nigeria with additional office in Wilmington, Delaware.

Pula

Grant in 2021
Pula GmbH is an insurance intermediary based in Mollis, Switzerland, specializing in agricultural insurance broking services. The company focuses on providing data-driven insurance solutions for small-scale farmers across six countries in Africa. By leveraging machine learning and analyzing weather patterns and farm losses, Pula helps farmers navigate climate risks and enhance their agricultural practices. Through the use of mobile technology, Pula empowers hundreds of thousands of smallholders to protect their crops and make informed financial decisions, ultimately enabling them to invest in their farms and improve their overall income.

Halan

Venture Round in 2021
Halan is a ride-hailing application that provides two and three-wheeler vehicle rides and on-demand logistics. The application also caters to businesses, offering smart-tech last-mile delivery through their integrated smart services using motorcycle and tricycles. It allows customers to request motorbike or tuk-tuk rides, or order food or goods for delivery via motorbikes or cargo tricycles. Halan also offers on-demand logistics solutions to support large organizations and small businesses alike in their distribution and supply chain. It also provides convenience and safety, while for the driver it offers incremental business. The application has delivered partnerships with fast-food chains like McDonald’s, KFC and Pizza Hut in Egypt. Halan was founded in November 2017 and is based in Cairo, Al Qahirah, Egypt.

Ecobank

Post in 2021
Ecobank Transnational Incorporated, established in 1985 and headquartered in Lomé, Togo, is a banking institution that provides a comprehensive range of retail, corporate, and investment banking services across Africa and internationally. The bank operates through three main segments: Corporate & Investment Banking, Commercial Banking, and Consumer Banking. Its offerings include various account types, personal and asset acquisition loans, mortgages, and payment cards, along with internet and mobile banking services. Additionally, Ecobank provides bancassurance, remittances, foreign exchange, trade finance, and cash management services. The bank serves a diverse clientele, including individuals, multinationals, government agencies, and small to medium-sized enterprises. With a network of 888 branches and over 2,460 ATMs, Ecobank has positioned itself as a key player in the West African banking sector, addressing the needs of a region previously dominated by foreign and state-owned banks.

TeamApt

Series B in 2021
TeamApt is a financial technology company focused on, developing Digital Banking, Digital Business solutions, and running Payments Infrastructure by rethinking the needs of consumers, businesses, and the financial industry. Beginning operations in 2015, TeamApt was borne from a desire to create financial happiness, building solutions and tools for businesses and individuals to happily manage money. TeamApt is proudly Nigerian but globally focused, with an eclectic mix of backend, frontend, reliability, quality assurance, distributed data storage engineers to ensure critical solutions and products for our customers are built right, securely, scalably and reliably. Our end goal is to see our customers happy which can only happen when they succeed using our solutions to run their daily lives and businesses.

Absa Bank

Funding Round in 2021
Absa Group Limited is a prominent financial services provider based in Johannesburg, South Africa, offering a diverse range of products and services both locally and internationally. The company specializes in personal and business banking, corporate and investment banking, as well as wealth and investment management. Its offerings include residential property finance, vehicle and asset finance, credit cards, personal loans, and a variety of insurance products. Absa also provides commercial property finance, agricultural loans, and a suite of transactional banking options, including savings and investment services. Additionally, the bank offers investment banking services, private equity, and corporate banking products, along with life insurance and fiduciary services. Absa's commitment to serving individual, enterprise, and commercial customers is evident through its comprehensive financial solutions, which include treasury services and cash management. The company was previously known as Barclays Africa Group Limited before rebranding to Absa Group Limited in May 2018.

Liquid Telecom

Funding Round in 2020
Liquid Telecom is an independent data, voice, and IP provider that commits to build a digital future. Liquid Telecom has built Africa’s largest single fibre network, currently stretching over 18,000km across Uganda, Kenya, Rwanda, Zambia, Zimbabwe, Botswana, DRC, Lesotho and South Africa. The award-winning Pan-African fibre network covers Africa’s fastest growing economies, where no fixed network has existed before.

mPharma

Series C in 2020
mPharma Data, Inc. is a technology-driven company based in Accra, Ghana, with an additional location in Lexington, Massachusetts. Founded in 2013, it focuses on improving access to high-quality medications in emerging markets by connecting physicians, pharmacies, and patients through its application. The company aggregates real-time market data on prescription trends, drug consumption, and adverse reactions, providing valuable insights to pharmaceutical manufacturers, distributors, and governments. mPharma offers a pharmacy network application that centralizes inventories from multiple pharmacies, enabling easier drug searches for physicians and patients. Additionally, the company provides subscription-based data analytics for actionable insights on drug consumption and diagnosis, along with prescription management tools to assist healthcare providers in locating various medicines. By partnering with drug manufacturers, insurance companies, and governments, mPharma aims to facilitate affordable access to essential medications for patients.

Mettle.net

Debt Financing in 2020
Mettle.net, established in 1995 and based in Bellville, South Africa, operates as a specialist financial services company offering a diverse range of financial solutions. The company provides asset-backed short-term lending, debtor finance, working capital finance, and corporate finance, catering to international corporates, small and medium enterprises, and individual clients across South Africa, Namibia, Kenya, and the United Kingdom. In addition to traditional lending services, Mettle.net is involved in fintech and solar energy sectors, specifically through Mettle Solar Investments, which designs and finances commercial and industrial solar photovoltaic systems. The company is recognized for its innovative approach to financial structuring and advisory services, ensuring tailored solutions that meet the unique needs of its clientele.

PEG

Debt Financing in 2019
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

Bank Of Africa

Post in 2019
BMCE Bank of Africa offers banking products for individuals, professionals, Moroccans living abroad. A confirmed upward trend, such is the result of the 2014 financial year, bringing out the consolidation of the financial base of BMCE Bank of Africa Group, with its earning power growing stronger year by year. This was recently again demonstrated by the record reached by the Net Income Attributable to the Parent, standing at MAD 1.944 billion, just under the bar of MAD 2 billion, accounting for more than the double of the amount of 2011, thus providing proof of concept for the Group’s strategic policy orientations, both in Morocco and abroad. Combined with the broader diversification of the business sectors, this performance further reflect the rising power of the Group, which is gaining a firmer foothold in Subsaharan Africa, inter alia through, the launch this year of the African Entrepreneurship Award, a competition with strong economic and social impact. Today, we have reached a new milestone in the development of BMCE Bank, which is gathering further strength as a continental Group, leveraging this powerful « Bank of Africa » brand name by coupling it with our prestigious BMCE Bank brand. « BMCE Bank of Africa » reflects our desire to extend our continental reach by setting up new establishments more especially in English-speaking and Portuguesespeaking parts of Africa. As a Maghrebian and Pan-African Group, our corporate responsibility is evidenced by all the commitments of our subsidiaries, acting as the operational and efficient vehicle. Whether this relates to financing of developmental projects or to community-based actions geared to promote financial inclusion, the Group, in its African dimension, has managed to position itself as a key player, highly involved in the economic, social and environmental development of the 30 countries where we are doing business. As part of 60th anniversary of the Independence of Morocco, 2015 will see the celebration of the 55th anniversary of the creation of Banque Marocaine du Commerce Extérieur, as well as the 20th anniversary of its privatization. We are confident that on these auspicious occasions, the accomplishments made by BMCE Bank and its subsidiaries will be far more striking, living up to the expectations of their shareholders, in line with the stature and the national and international outreach of BMCE Bank of Africa Group.

PEG

Series C in 2019
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

PEG

Debt Financing in 2019
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

Access Bank

Post in 2019
Access Bank provides banking products and services to individual and business customers in Ghana. It offers standard savings and current, access advantage, solo, and premier accounts. The company also provides online banking services that include ATM, online access, and point-of-sale terminal services; and bills payment and Western Union money transfer services.

TheBoardroom Africa

Venture Round in 2019
The Boardroom Africa, a recruiting company, provides female professionals that boards across the continent. The company provides training, placement, and development programme. The Boardroom Africa was founded in 2016 and is based in Ebene, Mauritius. The company has additional offices in Accra, Ghana and London, United Kingdom.

Liquid Telecom

Funding Round in 2018
Liquid Telecom is an independent data, voice, and IP provider that commits to build a digital future. Liquid Telecom has built Africa’s largest single fibre network, currently stretching over 18,000km across Uganda, Kenya, Rwanda, Zambia, Zimbabwe, Botswana, DRC, Lesotho and South Africa. The award-winning Pan-African fibre network covers Africa’s fastest growing economies, where no fixed network has existed before.

M-KOPA

Venture Round in 2018
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

M-KOPA

Series D in 2017
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

ONOMO Hotels

Venture Round in 2017
ONOMO Hotels, founded in 2009 and headquartered in Casablanca, Morocco, specializes in the design, development, ownership, and management of hotels. The company aims to cater to a dynamic pan-African and international business clientele by offering a high level of comfort at affordable prices. ONOMO Hotels focuses on optimizing services, accessibility, connectivity, and security, all while drawing inspiration from the rich qualities of African culture and maintaining harmony with the local environment. Through its innovative hotel projects, ONOMO Hotels seeks to create a welcoming atmosphere that reflects both modern needs and local heritage.

M-KOPA

Debt Financing in 2017
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

Alcazar Energy

Debt Financing in 2017
Alcazar Energy is a Dubai-based company founded in 2014 that focuses on producing renewable energy across the Middle East, Turkey, and Africa. It specializes in the origination, development, structuring, acquisition, and operation of solar and wind energy projects. As an independent investment firm, Alcazar Energy collaborates with seasoned professionals in the renewable energy sector to advance its initiatives. The company emphasizes solar photovoltaic and onshore wind technologies as key components of its project portfolio. Additionally, Alcazar Energy manages an infrastructure fund that targets investments in renewable energy assets, with a particular interest in emerging markets and sustainable practices.

Solon Capital Holdings

Venture Round in 2017
Solon Capital Holdings is an investment holding company based in Sierra Leone.

Africa Logistic Properties

Venture Round in 2017
Africa Logistics Properties (ALP) is the first integrated property investment and development property company dedicated to the modern grade-A logistics and industrial sector in Africa. Based in Nairobi, the management team includes senior property professionals with 20 years of industrial investment experience in emerging markets. ALP is backed by global institutional investors.

FirstRand Bank

Post in 2016
FirstRand Bank Limited, based in Sandton, South Africa, offers a comprehensive range of banking, insurance, and investment services to retail, commercial, corporate, and public sector clients, both locally and across various African countries. The bank operates through three main divisions: First National Bank, which focuses on retail and commercial banking; Rand Merchant Bank, specializing in corporate and investment banking; and WesBank, which provides installment finance solutions. Its product offerings include various deposit accounts, mortgage and personal loans, credit and debit cards, insurance products, and investment services. Additionally, FirstRand Bank delivers advisory and financing solutions, asset-based finance, wealth management, and internet banking services, catering to a diverse clientele that includes individuals, small businesses, medium corporates, and government entities, as well as the agricultural sector.

Zambeef Products

Post in 2016
Zambeef Products Plc is the largest integrated food processing and retailing company in Zambia. The Group is principally involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, dairy products, eggs, edible oils, stock feed, and flour.

M-KOPA

Series D in 2016
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

14Trees

Venture Round in 2016
14Trees is dedicated to accelerating the provision of affordable housing in Africa. They take construction innovations from the lab to the field, building affordable housing solutions with our bank & contractor partners.

ARM Cement Ltd.

Venture Round in 2016
ARM CEMENT LTD is a Kenya-based cement manufacturer company. It also manufactures sodium silicate, lime, industrial minerals, formulated fertilizers and special building products in east and southern Africa. The Company is also engaged in mining and processing of industrial minerals and chemicals, trading in other building products and the sale of fertilizers. The Company operates through the Cement and lime and Other products segments.

Akiira Geothermal

Venture Round in 2016
Akiira Geothermal Limited operates as a geothermal exploration and power plant development project. The company was founded in 2014 and is based in Nairobi, Kenya.

Jumia

Series C in 2016
Jumia Technologies AG operates a comprehensive e-commerce platform across Africa, connecting consumers with a wide array of sellers. The platform includes a marketplace for various products such as fashion, electronics, and home goods, as well as services like food delivery, travel bookings, and classified ads. Jumia also offers logistics services to facilitate the shipping and delivery of products and a payment service to streamline transactions within its ecosystem. Founded in 2012 and headquartered in Berlin, Germany, Jumia has become a key player in the digital transformation of the African economy. The company supports over 50,000 local businesses and individuals, creating job opportunities and fostering skill development on the continent. Through its operations, Jumia aims to enhance the shopping experience for consumers while providing businesses with efficient distribution solutions.

Globeleq

Private Equity Round in 2015
Globeleq Generation Limited develops, builds, and operates renewable power projects in Africa and the Americas. It operates a portfolio of natural gas, solar, wind, HFO, and fuel oil power generation assets. The company was founded in 2002 and is based in London, United Kingdom with regional offices in Nairobi, Kenya; Cape Town, South Africa; and Doula, Cameroon.

INT Towers Limited

Venture Round in 2015
INT Towers Limited owns and operates over 9,100 telecoms towers across seven regions in Nigeria. It is a wholly owned subsidiary of the IHS Towers Group – the largest independent tower operator in Africa – which has a presence in Nigeria, Cameroon, Cote d’Ivoire, Rwanda and Zambia.

Jumia

Series C in 2014
Jumia Technologies AG operates a comprehensive e-commerce platform across Africa, connecting consumers with a wide array of sellers. The platform includes a marketplace for various products such as fashion, electronics, and home goods, as well as services like food delivery, travel bookings, and classified ads. Jumia also offers logistics services to facilitate the shipping and delivery of products and a payment service to streamline transactions within its ecosystem. Founded in 2012 and headquartered in Berlin, Germany, Jumia has become a key player in the digital transformation of the African economy. The company supports over 50,000 local businesses and individuals, creating job opportunities and fostering skill development on the continent. Through its operations, Jumia aims to enhance the shopping experience for consumers while providing businesses with efficient distribution solutions.

Transcell Ltd

Venture Round in 2014
Transcell Ltd is a provider of Communications and IT Services.

Grindrod

Post in 2014
Founded in 1910, Grindrod Limited is a logistics company based in South Africa. The firm provides freight logistics, shipping and financial services to its clients internationally.
Bridge International Academies operates primary schools focused on providing education to underprivileged children. Founded in 2007 and based in Nairobi, Kenya, the organization offers services that align with national curricula and emphasizes comprehensive teacher training and development programs. Utilizing advanced wireless technology, Bridge International Academies aims to deliver quality education at no cost to students, fostering opportunities for a brighter future for those in underserved communities.

Feronia

Post in 2013
Feronia Inc. is an agribusiness based in Vancouver, Canada, operating primarily in the Democratic Republic of the Congo. The company manages three oil palm plantations and an arable farming operation, with its first plantation established in 1911. After acquiring its palm oil business in 2009, Feronia focused on revitalizing the plantations that were at risk of extinction. Through significant investment over the years, the company has stabilized its operations and aims to contribute positively and sustainably to the future of the Democratic Republic of the Congo. Feronia specializes in the production of crude palm oil and palm kernel oil, positioning itself as a key player in the regional agribusiness sector.

Foresythe Farm

Private Equity Round in 2013
Foresythe Farm runs a breeding herd of circa 5,400 cattle in Zambia.

Globeleq

Private Equity Round in 2001
Globeleq Generation Limited develops, builds, and operates renewable power projects in Africa and the Americas. It operates a portfolio of natural gas, solar, wind, HFO, and fuel oil power generation assets. The company was founded in 2002 and is based in London, United Kingdom with regional offices in Nairobi, Kenya; Cape Town, South Africa; and Doula, Cameroon.